85-1126 WFIITE - C�TV CLERK
PINK - FINANCE G I TY O F SA I NT PA U L Council (}
CANARV - DEPARTMEN File NO• Y� ��,��
BLUE - MAVOR
Co ncil Resolution
Presented By
Referred T Committee: Date
Out of Com ittee By Date
RESOLVED, that the fo lowing securities:
$300M S Treasury ills due 8/8/85
75M S Treasury otes 10.75% due 3/31/87
50M ederal Home Loan Banks 9.625% due 5/26/87
pledged a collateral to protect deposits of public funds
of the Ci y of Saint aul with Summit National Bank, hereby
is author zed, ratifi d, and approved, such having been
done in c nformance w th the applicable statutes of the
State of innesota.
Yeas CO Sonnen E Na s Requested by Department of:
�X � Finance and Mana e t Services
°re1N In Favor
Masanz
"�'� 5
Scheibel __ Against
TedesCo
Wilson
Adopted by Council: Date AUG 2 0 1985 Fo�m APP� City ttorne
Certified P s d ou cil S et BY
By
�
t�pp by Mavor: Da App v y yor for Subm' io o Council
By By '
PUBLISHED U� � 1 1985
Finance and Man gement Serv' es DEPARTMENT ��J �/��
N° 1642
Shirley� i CONTACT
292-7038 PHONE
Jul 30 1985 DATE 1 e�� e�
ASSIGN NUMBER FOR ROUTING ORD R Cli Al1 Locations for Si nature :
Department Di ector 3 Director of Management/Mayor
� Finance and M nagement Se vices Director 4 City Clerk
Budget Direct r
� City Attorney
WHAT WILL BE ACHI VED BY TAKI G ACTION ON THE ATTACHED MATERIALS? (PurposeJ E�E�VED
Rationale) : qUG
The passage of he attached resolution approves securities pledged by `5 ��7
Summit National Bank to pro ect funds of the City of Saint Paul while heldC' T
in said bank. � A/ T���
MSA 118 require collateral to protect public funds and sets out a procedure to
be followed in he handling of said collateral including the requirement of
approval by the governing b dy.
COST/BENEFIT, BUD ETARY AND P RSONNEL IMPACTS ANTICIPATED:
_ RECEIVED .,._
None ����=t�C,�
1�� AUG 5 1985
��`P ��UG 6 i985 OFFICE OF THE DIRECTOR '
,��,�y ,, DEPARTMENT OF FMANCE
G��� �rflCE �� M��►�EMENT SERVICES
FINANCING SOURCE ND BUDGET A TIVITY NUMBER CHARGED OR CREDITED: (Mayor's signa-
ture not re-
Total Amount o Transactio : quired if under
$10,000)
Funding Source:
Activity Numbe : None '
ATTACHMENTS (Lis and Number 11 Attachments :
Proposed Counci Resolution �
DEPARTMENT REVIE CITY ATTORNEY REVIEW
x Yes No Co ncil Resolut'on Required? Resolution Required? Yes No
Yes No In urance Requi ed? Insurance Sufficient? Yes No
Yes No In urance Attac ed:
(SEE REVERSE SIDE FOR INSTRUCTIONS)
Revised 12/84